Chadbourne & Parke represented FOVISSSTE in the successful placement of its 13th mortgage loan portfolio securitization, known as TFOVIS, which amounted to US$404 million. The settlement of the Issuance on the Mexican Stock Exchange (BMV for its Spanish Acronym) took place on August 31.
FOVISSSTE is a Mexican governmental entity that operates a financing system that allows state employees to obtain credit by means of a loan with a mortgage guarantee. It has become one of the most dynamic players of the Mexican structured finance market by placing over US$5.2 billion since 2009. The Issuance received a rating of AAA by Standard & Poor’s, Fitch and HR Ratings.
Chadbourne has successfully acted as transaction counsel in all of these offerings.
Working for Chadbourne on the deal were Mexico City partners Boris Otto and Alejandro Landa and associate José Carrillo.
